Overviews

Closing of Asia Session: EUR/USD

EUR/USD:

The pair traded in a very tight range between 1.2991-1.3017 during the session. No clear trend was seen in 4H chart as ADX runs under 20 and RSI goes flat near 42. On the downside, support levels lie at 1.2980, 1.2945, while to the upside, resistance levels lie at 1.3040/50, 1.3084.

R: 1.3040/50, 1.3084

S: 1.2980, 1.2945

Today

Forex market is pretty quiet during the session as there are scarcely any trading clues. In Australia, Minutes of Reserve Bank of Australia said resource investment in Australia had supported domestic economic growth and solid growth was seen among major trading partners, suggesting further interest cut was not as urgent as market expected. In Japan, the Leading Economic Index stood at 92 in October while Coincident Index rose to 91.4. In UK, the nation’ Nationwide Consumer Confidence rose to 40 in November from 36 in previous month. In European continent, European finance ministers agreed to provide 150 billion euros to IMF to help the trapped countries in the region and European Central Bank said it had bought more bonds in secondary market, which only received a cool response from the market as investors were growing more and more frustrated with EU member’s anticrisis measures. In stock market, Nikkei 225 Index closed 0.49% higher; China’s Shanghai Composite Index declined 0.16%; Hong Kong’s Hang Seng Index was 0.06% higher; Australia’s ASX 200 Index was 0.18% lower.

Tomorrow

09:00 GRM Ifo Business Climate Dec 106.6 106.3 - 11:00 GBP CBI retail sales volume balance Dec -19% -17% - 12:00 CAD CPI Nov 0.2% 0.3% - 12:00 CAD Bank of Canada Consumer Price Index Core Nov 2.1% - - 12:00 CAD CPI (Consumer Price Index) Nov 2.9% - - 12:00 CAD Bank of Canada Consumer Price Index Core Nov 0.3% 0.2% - 13:30 USD Housing Starts Nov 0.628M 0.640M - 13:30 USD Buildings Permits Nov 0.644M 0.630M - 21:45 NZD Current account (Balance of payments) Q3 -0.92B - - 23:30 AUD Leading Economic Index Oct -0.3% - - 23:50 JPY Merchandise Trade Nov ¥273.8B -